Boston Scientific (BSX) Scheduled to Post Earnings on Wednesday

Boston Scientific (NYSE:BSX - Get Free Report) is scheduled to be issuing its quarterly earnings data before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.51 per share for the quarter. Individual interested in listening to the company's earnings conference call can do so using this link.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. During the same period in the previous year, the firm earned $0.45 EPS. On average, analysts expect Boston Scientific to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Boston Scientific Price Performance

Shares of NYSE BSX traded down $0.16 during midday trading on Wednesday, hitting $67.96. The company had a trading volume of 6,177,583 shares, compared to its average volume of 6,375,059. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $69.21. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $99.70 billion, a price-to-earnings ratio of 63.65, a price-to-earnings-growth ratio of 2.36 and a beta of 0.78. The business has a 50-day simple moving average of $67.11 and a two-hundred day simple moving average of $59.63.

Insider Buying and Selling

In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the firm's stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the transaction, the chief financial officer now directly owns 271,542 shares of the company's stock, valued at $17,883,756.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Daniel J. Brennan sold 13,662 shares of Boston Scientific stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total transaction of $899,779.32. Following the sale, the chief financial officer now owns 271,542 shares in the company, valued at $17,883,756.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the company's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the transaction, the executive vice president now owns 56,508 shares of the company's stock, valued at $3,779,820.12. The disclosure for this sale can be found here. In the last three months, insiders sold 50,979 shares of company stock valued at $3,418,529. Company insiders own 0.50% of the company's stock.

Institutional Trading of Boston Scientific

A number of hedge funds and other institutional investors have recently modified their holdings of BSX. SageView Advisory Group LLC bought a new position in Boston Scientific during the 4th quarter valued at $588,000. Childress Capital Advisors LLC raised its stake in shares of Boston Scientific by 2.6% in the 4th quarter. Childress Capital Advisors LLC now owns 6,673 shares of the medical equipment provider's stock valued at $386,000 after purchasing an additional 169 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Boston Scientific by 2.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 742,769 shares of the medical equipment provider's stock worth $42,939,000 after purchasing an additional 18,497 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Boston Scientific by 2.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 48,801 shares of the medical equipment provider's stock worth $2,821,000 after purchasing an additional 955 shares in the last quarter. Finally, Townsquare Capital LLC bought a new stake in Boston Scientific in the fourth quarter valued at about $203,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BSX shares. Evercore ISI upped their price target on Boston Scientific from $68.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, April 4th. Argus lifted their price target on Boston Scientific from $69.00 to $80.00 and gave the stock a "buy" rating in a research note on Wednesday, April 3rd. Needham & Company LLC raised their target price on shares of Boston Scientific from $60.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, February 1st. JPMorgan Chase & Co. lifted their price objective on Boston Scientific from $60.00 to $72.00 and gave the stock an "overweight" rating in a research report on Thursday, February 1st. Finally, Raymond James upped their price objective on Boston Scientific from $67.00 to $73.00 and gave the company a "strong-buy" rating in a research report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $68.50.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.